HONG KONG - Asian markets were mixed on Friday as positive US jobs and export data and an upward revision of Japan's growth were offset by weak Chinese figures.

However, the yen, which hit a 15-year high against the dollar this week, slipped as the US data combined with news of what could be Japan's first bank failure in seven years.

Tokyo added 1.55%, or 140.78 points, to 9,239.17, while Seoul closed 1.02%, or 18.22 points, higher at 1,802.58 and Taipei rose 0.70%, or 54.57 points, to 7,890.11.

Japanese traders were given a lift after the government said the economy expanded more than initially thought in the second quarter, soothing fears that a recovery was shuddering to a halt.

Gross domestic product grew an annualised 1.5% in the April-June quarter, well above an initial estimate of 0.4% and in line with economists' forecasts as firms ramped up capital spending, data showed.

Most markets rose early after the US Labor Department said the number of Americans filing new claims for jobless benefits last week fell faster than expected to 451,000, down 27,000 from the previous week's revised figure.

That came as the Department of Commerce said the US trade deficit dropped more than expected in July as exports reached their highest level in two years.

"The US jobs market is showing signs of recovery, so that's easing worries about macroeconomic conditions and leading to more risk appetite," Taurus Investment & Securities' Oh Tae-Dong in South Korea told Dow Jones Newswires.

The news lifted confidence in the US economy and -- coupled with last week's figures showing fewer people than expected were laid off last month -- eased concerns of a double-dip recession. On Wall Street the Dow edged up 0.27% while the broader S&P 500 index gained 0.48% and the tech-rich Nasdaq composite index was up 0.33 percent.

Asian currency traders used the data to sell the yen against the dollar.

The dollar rose to 83.90 yen in Tokyo afternoon trade compared with 83.85 dollars in New York Thursday.

The euro dropped to 1.2683 dollars from 1.2697 dollars in New York, and slipped to 106.38 yen from 106.47.

The yen was also pressed after private Incubator Bank of Japan was told to halt operations and was expected to file for bankruptcy Friday. It would be Japan's first bank failure since 2003.

Incubator specialises in providing banking services for small and medium-sized businesses and is not related to Japan's central bank.

The Financial Services Agency told the lender it cannot do business for at least three days and must make efforts to protect existing depositors.

China revealed Friday that exports in August rose 34.4% year on year but at a slower rate than in July, when they climbed 38.1%.

It also said its trade surplus shrank as imports accelerated 35.2% in August after rising 22.7% in July.

The news dampened spirits in Asia with Shanghai 0.30 percent off and Hong Kong 0.04 percent down by the break.

Sydney was 0.48%, or 21.9 points, lower at 4,560.3.

"Exports were lower but didn't fall too much lower than expected, as investors have been expecting a slowdown. The slide in the Shanghai index can be more attributed to caution ahead of tomorrow's release of (consumer price index) data," Amy Lin at Capital Securities said.

"If it's not as high as market expects, it could give the index a noticeable boost next week."

China is due on Saturday to release key data on inflation, retail sales and industrial output.

Oil was mixed. New York's main contract, light sweet crude for October delivery rose 52 cents to 74.77 US dollars a barrel.

Brent North Sea crude for October delivery fell 32 cents to 77.15 dollars.

Gold opened at 1,244.50-1,245.50 US dollars an ounce in Hong Kong, down from Thursday's closing price of 1,255.00-1,256.00 dollars.